Facebook: Facebook-BCG report recommends brands to deal with COVID-19

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Facebook India, in collaboration with Boston Consulting Group, has released a report titled ‘Turn the Tide’, stating how COVID-19 has dramatically changed consumer behavior and changed path-to-purchase. . The report also shares actionable guidance for brands.

The COVID-19 epidemic and resulting lockdown have caused significant disruption to people, communities and businesses.

This report focuses on the major consumer-shifts based on three social truths that have emerged as a result of the epidemic – social disturbances, increased attention to health and hygiene, and increasing income uncertainty. Within each of these shifts, the report claims that there are three types of behavior change movements that are being observed – reversal of past trends, acceleration of current trends, and formation of new habits.

The report is particularly leading to mass media accelerating digital led, the emergence of micro market opportunities, increased value consciousness and more utility-led shopping, giving consumers historically such as education, health Also embracing offline categories. And fitness, increasing spending on e-commerce in the coming months and more.

Recommendations for brands to be used for the new normal:

* Build social engagement across social distinctions: engagement with consumers in their context

* Focus on hyper-localization: Connect with consumers where they are

* Bring a live experience with digital access: virtual launches and product demos

* Optimizing portfolios for value creation: segmenting consumers to drive differential value

* Based on media mix models to drive development: align to new media landscape

* Build your online presence: Influencing your own platform and marketplace

* Strengthen CRM solutions: Post sales communications and messaging for other digital CRM tools

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